2025 NatureVest Impact Report

After more than a decade at the intersection of nature, science and finance, NatureVest has grown from early pilots into a portfolio of approaches helping redefine how markets value nature. At a moment of accelerating demand for credible, market‑based solutions, this progress reflects both impact delivered and momentum ahead.

Since 2014, NatureVest has shown that when finance and science collaborate, impact outcomes and financial returns are not mutually exclusive and that this alignment is, in fact, a smart business strategy. Our portfolio has grown to represent $4+ billion USD in committed capital across more than 25 countries, demonstrating that well-structured and measured impact investments can support ecosystems, strengthen community resilience and generate competitive financial returns.

This year, that value proposition has become even clearer. As part of TNC’s broader nature finance strategy, the NatureVest team brings scientific, financial and legal expertise to enhance collaborations with asset managers and investors, financial institutions, governments, NGOs and local communities, achieving impact at scale. The result is a growing pipeline of work that is both scientifically grounded and financially credible, with a focus on market‑shaping strategies that shift entire systems away from business-as-usual. These innovations require iteration and learning, and they reflect the next stage of where nature finance needs to be headed.

What’s Inside the Report?

• Unlocking nature’s value: NatureVest’s Ekaterina Alexandrova offers a refreshed approach to understanding the multi‑dimensional value of nature‑based strategies that can reveal benefits beyond traditional metrics.
• Shaping the next generation of nature finance solutions: We share emerging capital solution opportunities and how early-stage innovation is shaping what comes next.
• Advancing a more resilient future for agriculture through market transformation: A Q&A with NatureVest’s Jacob Davis explores how shifting market incentives can strengthen outcomes for nature and communities, and what it will take to scale these approaches.
• Project spotlights and impact highlights: Updates from across our work, including impressive impacts from conservation tourism in Africa, progress on nature‑positive sovereign solutions (TNC’s Nature Bonds Program) supported by new coalitions and credit enhancement partners, and impact outcomes across our broader portfolio.

Looking forward, our team will continue developing models that bring nature and communities into the center of financial decision‑making, deepening our collaborations and refining the structures that can be replicated and scaled by the broader market.

Thank you to our colleagues and collaborators for their dedication and expertise, which make this work successful. It’s a privilege to help lead NatureVest into its next stage, and I’m excited for the impact we will continue to deliver together.

I'm pleased to share NatureVest’s 2025 Impact Report below.